U.S markets rallied following the FOMC statement. The committee removed the term ‘patient’ from their pledge and instead noted that any changes is policy would be dependent on data. Markets welcomed news that the Fed would wait for improvement in the labour market. Dan Greenhaus, chief strategist at BTIG commented that “What’s important about this part of the statement is that it clearly says the FOMC is looking for ‘further’ improvement, meaning the economy and labor market has not yet met whatever criteria necessary to warrant a rate hike.” The statement led to speculation that interest rates could be hiked in September instead of in June. At session close the S&P 500 was 1.2% higher at 2,099.42 and the Dow Jones was 1.3% higher at 18,076.19.
Asian markets were mixed today. The Nikkei lost 0.35% as the Dollar plummeted against the Yen. Traders reacted to a downgrade in economic projections as the economic growth prospect was reduced and the inflation target for 2015 was lowered. In addition, positive Japanese data beat expectations and the All Industries Activity Index climbed by 1.9%. In the index, Mitsumi Electric Co lost 3.72%, Nippon Suisan Kaisha lost 3.39% and Alps Electric Co lost 3.21%. Traders should watch the Japanese Monetary Policy Meeting Minutes which will be released at 11.50PM (GMT) tonight. The Hang Seng added 1.45% as traders reacted to the FOMC statement and reduced likelihood that the interest rate will be hiked in June. In the Index, Tencent Holdings added 6.7%, Link REIT added 5.15% and Wharf Holdings added 4.43%.
European markets finished mixed today. The ECB was released earlier in the day and showed that the QE has supported economic activity and further strengthening ix expected in the future. The FTSE finished 0.4% higher, the DAX finished 0.02% lower and the CAC 40 finished 0.04% lower. In the FTSE, Fresnillo PLC gained 5.36%, Randgold Resources climbed 3.21% and Marks and Spencer climbed 3.1%. In the DAX, Siemens lost 3.54% but Deutsche Lufthansa added 3.21% and Continental added 2.2%.
March 19, 2015 – Indices News
U.S markets rallied following the FOMC statement. The committee removed the term ‘patient’ from their pledge and instead noted that any changes is policy would be dependent on data. Markets welcomed news that the Fed would wait for improvement in the labour market. Dan Greenhaus, chief strategist at BTIG commented that “What’s important about this part of the statement is that it clearly says the FOMC is looking for ‘further’ improvement, meaning the economy and labor market has not yet met whatever criteria necessary to warrant a rate hike.” The statement led to speculation that interest rates could be hiked in September instead of in June. At session close the S&P 500 was 1.2% higher at 2,099.42 and the Dow Jones was 1.3% higher at 18,076.19.
Asian markets were mixed today. The Nikkei lost 0.35% as the Dollar plummeted against the Yen. Traders reacted to a downgrade in economic projections as the economic growth prospect was reduced and the inflation target for 2015 was lowered. In addition, positive Japanese data beat expectations and the All Industries Activity Index climbed by 1.9%. In the index, Mitsumi Electric Co lost 3.72%, Nippon Suisan Kaisha lost 3.39% and Alps Electric Co lost 3.21%. Traders should watch the Japanese Monetary Policy Meeting Minutes which will be released at 11.50PM (GMT) tonight. The Hang Seng added 1.45% as traders reacted to the FOMC statement and reduced likelihood that the interest rate will be hiked in June. In the Index, Tencent Holdings added 6.7%, Link REIT added 5.15% and Wharf Holdings added 4.43%.
European markets finished mixed today. The ECB was released earlier in the day and showed that the QE has supported economic activity and further strengthening ix expected in the future. The FTSE finished 0.4% higher, the DAX finished 0.02% lower and the CAC 40 finished 0.04% lower. In the FTSE, Fresnillo PLC gained 5.36%, Randgold Resources climbed 3.21% and Marks and Spencer climbed 3.1%. In the DAX, Siemens lost 3.54% but Deutsche Lufthansa added 3.21% and Continental added 2.2%.
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